• About
  • Contcat Us
Monday, March 20, 2023
Justice Bench
No Result
View All Result
  • Login
  • Register
  • Home
  • Articles
  • Online Internship
  • Forums
  • Home
  • Articles
  • Online Internship
  • Forums
No Result
View All Result
justice bench
No Result
View All Result
Home News

Bail refused for The NSE Ex-MD Chitra Ramkrishna – know more

By Justuce Bench by By Justuce Bench
May 16, 2022
in News
Reading Time: 4 mins read
0
0
Bail refused for The NSE Ex-manager Chitra Ramkrishna - know more

Bail refused for The NSE Ex-manager Chitra Ramkrishna - know more

0
SHARES
4
VIEWS

It’s Alright Ma I’m Only Bleeding”, means that money not only has influence, but it has great influence, even a perverse influence on people,

The Delhi Court recently in Chitra Ramkrishna, Anand Subramaniam v. CBI case denied bail to former National Stock Exchange (NSE) head Chitra Ramkrishna.

The Delhi Court reproduced lines written by legendary singer Bob Dylan  “Money doesn’t talk, it swears,”.

READ ALSO

The Calcutta High Court has ruled that any form of penetration, even if it is minimal, during forced anal sex is considered an offense under Section 377 of the Indian Penal Code.

Bengaluru court has banned the spread of defamatory content about IAS officer Rohini Sindhuri in a lawsuit against Roopa Moudgil and the media

According to Additional Sessions Judge Sanjeev Aggarwal, meant “money not only has influence, but it has great influence, even a perverse influence on people.”

The mentions of the 1964 song featuring these lines in the 42-page order had on July 12 also rejected the bail of former NSE employee Anand Subramanian who was accused of criminal conspiracy with other co-accuses for allegedly causing a huge advantage to various trading members/brokers.

A private Hub and Bob Dylan

The judge noted that Subramanian ran NSE’s affairs akin to that of a private club and it stated that

“It appears that accused A-1 prima facie seems to have been running the affairs of NSE akin to that of a private club; singer writer, Nobel Laureate Bob Dylan once said ‘money doesn’t talk, it swears’, which is a song of, 1964 song album “It’s Alright Ma I’m Only Bleeding”, means that money not only has influence, but it has great influence, even a perverse influence on people (sic),”.

Further, The court observed that the “present scam” in its view in relation to foreign institutional investors (FIIs) could impact the investment scenario in the country.

FIIs are always looking for a fair, transparent, and clean stock exchange to trade with.

The present scam has been stated to have shaken the financial consciousness of investors, whether retail, institutional or otherwise and the situation required mending in order to restore the confidence of the public at large and the financial world including the FIIs, who was waiting with “bated breath” for the NSE to redeem itself and fly to India in “droves” for investment.

The Court in it’s order, highlighted that,

“With regard to affairs of NSE at the relevant time, it would not be out of place to observe herein that there comes a time in a lifetime of an institution, where it finds itself at crossroads, then it should take a path which is a right path to restore its glory, rather than burying the skeletons, which may later turn into Frankenstein monsters.”

Allegations Vs Arguments

Accused Ramkrishna, the former NSE managing director (MD), is accused of financial misdeeds relating to fixation and frequent revision of Subramanian’s compensation in a disproportionate manner, in cahoots with someone whom she claimed to be a “Siddha Purusha”.

The Central Bureau of Investigation (CBI) alleged that Ramkrishna being the MD had the bandwidth to determine the salary of any consultant and such emoluments were within such bandwidth on the basis the experience Subramanian brought to the table.

She was in touch through e-mails with a Himalayan Yogi who the CBI later claimed to be none other than Subramanian, are the other allegation against Ramkrishna.

These were contested arguing that the CBI’s case pertained to negligence in the administration of NSE which in the best-case scenario was a civil wrong and not a criminal offence. Her counsel further submitted that no specific role was attributed to her by the investigating agency.

Though Chitra was stated to have no connection with these allegations, The CBI agency’s bone of contention was that based on the data illegally provided by NSE officials a software “Chanakya” developed by a co-accused Ajay Shah was sold to selected brokers who, in turn, benefited by exploiting the “tick-by-tick” server architecture with the software.

It was argued that Subramanian left NSE in 2016, and, therefore, there was no question of influencing witnesses or tampering with the evidence.

“Merely because be was the CEO between 2013-2016 is baseless to falsely implicate him in the present case,” submitted his counsel.

Both accused, therefore, sought bail.

Chitra Ramakrishna Counsel

Apart from Senior Advocate N Hariharan, advocates Shivam Batra, Rony Oommen John, Akhil Ranganathan, Arshdeep Singh, Punya Rekha Angara, Prateek Bhalla, Priya S and Subir Sarkar

Anand Subramanian Counsel

Advocates Arshdeep Singh, Aakashi Lodha and Aditya Chopra

[Read Order]

CBI_v__Chitra__AnandDownload
Tags: bailbail refuseBob Dylanchitra ramakrishnadelhi high courtjustice benchlatest judgementslegal newslegalnewsindiaNSE
ShareTweetSendShare

Related Posts

calcutta hc
News

The Calcutta High Court has ruled that any form of penetration, even if it is minimal, during forced anal sex is considered an offense under Section 377 of the Indian Penal Code.

February 24, 2023
Bengaluru court has banned the spread of defamatory content about IAS officer Rohini Sindhuri in a lawsuit against Roopa Moudgil and the media
News

Bengaluru court has banned the spread of defamatory content about IAS officer Rohini Sindhuri in a lawsuit against Roopa Moudgil and the media

February 24, 2023
pocso act
News

SC – Touching a finger to a vagina does not constitute “insertion” for the purposes of attracting charges of penetrative sexual assault under the POCSO Act.

February 23, 2023
The Gujarat High Court has rejected a request by the wife of Sanjiv Bhatt, stating that police protection is not a guaranteed right.
News

The Gujarat High Court has rejected a request by the wife of Sanjiv Bhatt, stating that police protection is not a guaranteed right.

February 13, 2023
Justice Hima Kohli stated that Artificial Intelligence cannot replace the role of a judge or a lawyer, but it can handle cases such as traffic violations and cheque bounces.
News

Justice Hima Kohli stated that Artificial Intelligence cannot replace the role of a judge or a lawyer, but it can handle cases such as traffic violations and cheque bounces.

February 13, 2023
Central Government notifies appointment of Justice Sonia G Gokani as Chief Justice of Gujarat High Court
News

The appointment of Justice Sonia G. Gokani as the Chief Justice of the Gujarat High Court has been announced by the central government.

February 13, 2023
google news
google news

POPULAR NEWS

Justices DY Chandrachud, AS Bopanna, and Bela M. Trivedi,

Execution of Document not to be considered based on Admission of Sign on Document Rules Supreme Court

May 12, 2022
DIFFERENCE BETWEEN ADVOCATE AND LAWYER

WHAT IS THE DIFFERENCE BETWEEN AN ADVOCATE AND A LAWYER?

June 4, 2022
La Milano Pizzeria restrained  from representing previous association with La Pino'z - know more

La Milano Pizzeria restrained  from representing previous association with La Pino’z – know more

May 20, 2022
Why does Sequoia Capital terminate connections with Sandeep Kapoors Algo Legal? threats of ED searches, arm-twisting, and more

Why does Sequoia Capital terminate connections with Sandeep Kapoors Algo Legal? threats of ED searches, arm-twisting, and more

June 6, 2022
jug jugg jeeyo

Copyright infringement | Jugjugg Jeeyo movie stay refused by Ranchi court

June 25, 2022

Tags

advocate Algo Legal Allahabad HC Allahabad High Court Anil Deshmukh anticipatory bail Appointment of Judges bail Bombay high court calcutta high court central government cji Collegium Collegium Recommendations defamation delhi high court divorce Enforcement Directorate gauhati high court Gujarat High court Gyanvapi Mosque high court judges IPR Judicial Appointments justice bench karnataka high court kerala high court latest judgements law ministry legal news madras high court murder patna high court pil pocso act Rouse Avenue Court Sequoia Capital study material supreme court Supreme Court Collegium supreme court of india UAPA Union Law Ministry Uttar Pradesh varanasi court

The Calcutta High Court has ruled that any form of penetration, even if it is minimal, during forced anal sex is considered an offense under Section 377 of the Indian Penal Code.

by By Justuce Bench
February 24, 2023
0
calcutta hc
News

The Calcutta High Court in India recently refused to quash a criminal case involving charges under Section 377 and allegations...

Read more

Bengaluru court has banned the spread of defamatory content about IAS officer Rohini Sindhuri in a lawsuit against Roopa Moudgil and the media

by By Justuce Bench
February 24, 2023
0
Bengaluru court has banned the spread of defamatory content about IAS officer Rohini Sindhuri in a lawsuit against Roopa Moudgil and the media
News

The Bengaluru court issued a temporary injunction against IPS officer D Roopa Moudgil and 59 media companies from broadcasting defamatory...

Read more

SC – Touching a finger to a vagina does not constitute “insertion” for the purposes of attracting charges of penetrative sexual assault under the POCSO Act.

by By Justuce Bench
February 23, 2023
0
pocso act
News

On Wednesday, the Supreme Court rejected an appeal against a Kerala High Court decision which had ruled that poking one's...

Read more

The Gujarat High Court has rejected a request by the wife of Sanjiv Bhatt, stating that police protection is not a guaranteed right.

by By Justuce Bench
February 13, 2023
0
The Gujarat High Court has rejected a request by the wife of Sanjiv Bhatt, stating that police protection is not a guaranteed right.
News

The Gujarat High Court has rejected a petition filed by Shweta Bhatt, wife of former IPS officer Sanjiv Bhatt who...

Read more

About

Justice Bench is one of the fastest growing news legal portal in India, for latest Latest Legal News india, Supreme Court judgement updates, High Courts Judgments updates,Law Firms News in india, Law School News, Latest Legal News india visit us.

Follow us

google news
google news

Recent Posts

  • The Calcutta High Court has ruled that any form of penetration, even if it is minimal, during forced anal sex is considered an offense under Section 377 of the Indian Penal Code.

Popular News

  • DIFFERENCE BETWEEN ADVOCATE AND LAWYER

    WHAT IS THE DIFFERENCE BETWEEN AN ADVOCATE AND A LAWYER?

    0 shares
    Share 0 Tweet 0
  • Allahabad HC rules Daughter has the right to demand maintenance from father

    0 shares
    Share 0 Tweet 0
  • [Gyanvapi Mosque] Plea to quash FIR Lucknow University professor refused – know more

    0 shares
    Share 0 Tweet 0
  • Bengaluru court has banned the spread of defamatory content about IAS officer Rohini Sindhuri in a lawsuit against Roopa Moudgil and the media

    0 shares
    Share 0 Tweet 0
  • On custody of a surrogate child born before Surrogacy Act of 2021 the Allahabad High Court has sought a response from Centre

    0 shares
    Share 0 Tweet 0

© 2022 JusticeBench  |  Privacy Policy  | Terms of Use

No Result
View All Result
  • Home
  • Articles
  • Online Internship
  • Forums

© 2022 JusticeBench  |  Privacy Policy  | Terms of Use

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In